Malaysia signs record rice deals with India
Malaysia has agreed to import 100,000 tonnes of rice from India for 2020.
Labourers manoeuvre a cart loaded with rice sacks at a mill on the outskirts of Ahmedabad, India (Photo: Reuters)Kuala Lumpur (VNA) - Malaysia has agreed to import 100,000 tonnes of rice from India for 2020.
It is a record amount as the Southeast Asian nation bought around 53,000 tonnes per year on average from India in the past five years.
According to India’s Rice Exporters Association, Malaysia is making substantial purchases from India after a long time, in a further sign of improving trade relations between the countries. The purchases would help trim rice stockpiles in India, the world’s biggest exporter.
The Indian association looks to export 200,000 tonnes of rice to Malaysia this year after the latest deals.
Malaysia relies on rice imports as it gives priority to its palm oil industry instead. The country buys roughly 900,000 tonnes of rice each year, with Thailand being its largest supplier./.
It is a record amount as the Southeast Asian nation bought around 53,000 tonnes per year on average from India in the past five years.
According to India’s Rice Exporters Association, Malaysia is making substantial purchases from India after a long time, in a further sign of improving trade relations between the countries. The purchases would help trim rice stockpiles in India, the world’s biggest exporter.
The Indian association looks to export 200,000 tonnes of rice to Malaysia this year after the latest deals.
Malaysia relies on rice imports as it gives priority to its palm oil industry instead. The country buys roughly 900,000 tonnes of rice each year, with Thailand being its largest supplier./.
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